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State Street Launches Three New Digital Asset and Tech ETFs

12.09.2024 8:00 1 min. read Alexander Stefanov
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State Street Launches Three New Digital Asset and Tech ETFs

State Street Global Advisors is introducing three new exchange-traded funds (ETFs) focused on digital assets and emerging technologies.

Managed by Galaxy Asset Management, the new ETFs include the SPDR Galaxy Digital Asset Ecosystem ETF (DECO), the SPDR Galaxy Hedged Digital Asset Ecosystem ETF (HECO), and the SPDR Galaxy Transformative Tech Accelerators ETF (TEKX).

DECO aims to capture the growth from blockchain and digital assets, including cryptocurrencies, through ETFs and futures.

HECO offers similar exposure but adds volatility management with covered and protective put options. TEKX targets investments in companies driving disruptive technologies like blockchain and AI.

Anna Paglia, Chief Business Officer at State Street Global Advisors, highlighted the transformative potential of digital assets and blockchain technology for financial markets and the broader economy.

She noted that the new ETFs are designed to address investor concerns about cryptocurrency volatility by offering diversified, actively managed portfolios.

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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